In an official press statement sent to Indonesia Stock Exchange (IDX) today, the transaction will be settled via bareboat charter for a period of 7-11 years.

The three tankers have been commercially operated and another one will be delivered in upcoming several weeks.
According to Finance Director Kevin Wong at Berlian Tanker, the deal will generate a positive cash flow to BLTA, strengtening its balance and financial position as well as enhancing relations with Standard Chartered Bank.

"By completing the deal, it will steeply enlarge our liquidity and improve our credit profile after a debt refinancing of US$685 million recently. BLTA currently has 65 fleets of chemical tanker and three fleets under construction, 14 fleets of oil tanker, 16 fleets of gas tanker and 4 under contruction, one floating storage offloading, and one floating production storage offloading.
At end of September last year, BLTA recorded US$495 million, operating profit of nearly US$100 million, and US$2.7 billion assets.